openPR Logo
Press release

Silicon Electrical Steel Market is projected to expand at a positive CAGR of 6.2% over the assessment period 2020 to 2030- States Fact.MR

04-08-2021 11:27 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Electrical Steel Market

Electrical Steel Market

The global electrical steel market has utilized the opportunities in the market over the last decade with sales of electrical steel pegged at US$ 20.4 Bn in 2019.

However, sales are set to plummet during in the middle two quarters of 2020 owing to COVID-19.
In addition, several automakers have shuttered their production units, causing incalculable loss to the electrical steel market in 2020.

To get in-depth information view the report - https://www.factmr.com/report/2397/electrical-steel-market

However, the demand of electrical steel is anticipated to rebound and showcase a positive growth trend over the long-term forecast period.

The above represented scenario is projected to expand the global electrical steel market at a positive CAGR of ~6.2% over the assessment period (2020-2030).

The future of electrically-powered motors used in automotive relies on high grade electrical steel.

The advantages of electrical steel including its efficiency, capability to reduce overall weight and heat loss are some of the factors which are anticipated to amplify the overall sales of electrical steel post COVID-19.

Apart from electric vehicle or any other vehicles, electrical steel is anticipated to gain massive opportunities from other sectors as well including consumer electronics and construction.

To Know the COVID-19 Impact on Europe Region, Request for Sample - https://www.factmr.com/connectus/sample?flag=S&rep_id=2397

Key Takeaways of Electrical Steel Market:

Out of per Mn dollar spent on electrical steel, non-grain oriented electrical steel segment is anticipated to account for ~70% of the opportunity captured in global electrical steel market by 2030

Over the last 5 years, the demand for electrical steel was restricted to the motors segment and it is likely to showcase a similar growth trend with an absolute dollar opportunity of US$ ~4.5 Bn over the short-term forecast period (2020-2025)

Prominent electrical steel trading countries such as China, India, US, Russia, Turkey and Brazil will opt for collaborative strategies in the near future to overcome the loss incurred in the wake of COVID-19

East Asia is house to several key manufacturers for decades and is likely to maintain its leadership in terms of production over the long-term forecast period. The region is expected to account for near half of the sales of electrical steel by 2030.

Share Your Requirements & Get Customized Reports - https://www.factmr.com/connectus/sample?flag=RC&rep_id=2397

“The evolving transformation of end use industries towards emission control and adoption of lightweight materials is anticipated to witness a v-shaped growth trend for global electrical steel industry between 2019 and 2022. Also, demand for high frequency, high torque and efficient motors is likely to become a product wish list for key manufacturers", says the Fact.MR analyst.

Tier 1 Companies will Emerge Winners with Greater Penetration in Electrical Steel Industry, Finds Fact.MR

In order to meet increasing demand for electrical steel, prominent companies have ramped up their production capacities during the historical period (2015-2019). The near-term will witness investments in electric steel to make up for the loss created by the pandemic.

For instance, companies like ThyssenKrupp AG and Big River Steel have done billion $ investments to expand their production capacities and strengthen their position in the market.

However, due to increasing prevalence of coronavirus, many manufactures have halted their current production and investment activities.

Some of the tier 1 players include ArcelorMittal S.A., Baosteel Group Corporation, POSCO, Novolipetsk Steel, ThyssenKrupp AG, Nippon Steel & Sumitomo Metal Corporation, and Voestalpine AG accounted for near half of the global sales in 2019.

Buy Now for Exclusive Analyst Support - https://www.factmr.com/checkout/2397/S

More Valuable Insights on Electrical steel market:

Fact.MR, in its new offering, presents an unbiased analysis of the electrical steel market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030.

The study divulges essential insights on the electrical steel on the basis of product (grain-oriented electrical steel and non-grain oriented electrical steel), application (inductors, transformers and motors), end use industry (automobile, energy, household appliance, manufacturing and others) across six major regions.

Visit Our Website - https://www.factmr.com/

Content Source – https://www.factmr.com/media-release/1478/electric-steel-market-demand

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Silicon Electrical Steel Market is projected to expand at a positive CAGR of 6.2% over the assessment period 2020 to 2030- States Fact.MR here

News-ID: 2267615 • Views: 147

More Releases from Fact.MR

Increasing use of gallium nitride in military and aerospace industry, fuelled gl …
Gallium nitride is a glass-like substance that is translucent. It can be used with broader bandwidth and tough structure as a semiconductor unit. Compared to the semiconductor form of silicon, it tends to lose less energy. Gallium nitride use is growing with the growth of wireless devices. The gadgets based on gallium nitride have numerous applications, from electronics to telecommunications and automotive. The wider bandwidth means that energy is quickly transferred
Demand for anti-friction coatings is highest in transportation industry. Asia Pa …
Anti-Friction Coatings Market: Overview and Dynamics Anti-Friction coatings are a type of lubricant solution that are similar in formulation to common industrial paints. It comprises of solid lubricants and resins as solvents. The main components of solid lubricants are molybdenum disulphide, Polytetrafluoroethylene (PTFE) and graphite. The most preferred way of applying anti-friction coatings is immersion or by spraying carefully onto the degreased surfaces. There are other methods as well like electrostatic
Automotive Lighting Market to Grow at CAGR of 5 % through 2030 to reach a valuat …
The global automotive lighting market is projected to grow at 5% and will be valued at US$ 65 Bn by the end of the forecast period (2020-2030). However, the COVID-19 crisis has impacted the growth trajectory as the demand for automotives has fallen sharply. In the wake of disruption of supply chains and the shutdown of manufacturing plants, the automotive lighting market growth has been profoundly affected. To get in-depth
Polyamines Market Trends and Analysis (2020-2030): Key Market Dynamics and Growt …
Polyamines market is poised to surpass US$ 200 Mn by 2020 and is set to grow at a steady 4% during the forecast period (2020-2030). Polyamines is a key water treatment chemical and coagulant used for treatment of discharged waste water. Though coagulants constitute a major share of the market, shale inhibitors are growing at a faster rate owing to their high demand in oil & gas well explorations. To get

All 5 Releases


More Releases for Steel

Miscellaneous Steel Detailing | Steel Detailer | Steel Detailing Services
We provide the highest quality of finished projects in the industry. Boasting unmatched turnaround times, and superb accuracy. WorldSteel Detailings has onboard team of experienced steel detailers and engineers with a wide range of experience from industrial and commercial projects to high rise buildings. By using innovative technologies and latest softwares, our structural steel detailing team provides accurate services as per your requirements based on country standards.Our steel detailing professionals
Steel Market Is Thriving Worldwide | Shaaban Steel, Zamil Steel Holding
A new research study from HTF MI with title Global Steel Industry Market Research Report provides an in-depth assessment of the Steel including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies. The research study provides forecasts for Steel investments till 2022. Access Sample Copy @: https://www.htfmarketreport.com/sample-report/1759094-global-steel-industry-market If you are involved in the Steel industry or intend to be, then this study will provide you
Global Steel Billet Market 2018 - Rizhao Steel, Fangda Steel, EVRAZ, MMK, Baotou …
Apex Market Reports, recently published a detailed market research study focused on the “Steel Billet Market” across the global, regional and country level. The report provides 360° analysis of “Steel Billet Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Steel Billet on
Global Mild Steel Angles Market Study 2018-2023 Nucor Steel, Angang Steel, NJR S …
A market study "Global Mild Steel Angles Market" examines the performance of the Mild Steel Angles market 2018. It encloses an in-depth Research of the Mild Steel Angles market state and the competitive landscape globally. This report analyzes the potential of Mild Steel Angles market in the present and the future prospects from various angles in detail. The Global Mild Steel Angles Market 2018 report includes Mild Steel Angles market Revenue,
Global Structural Steel Pipe Market Forecast 2018-2025 JFE Steel, Metalcorp Stee …
QYMarketStudy include new market study "Global Structural Steel Pipe Market" examines the performance of the Structural Steel Pipe market 2018. It encloses an in-depth Research of the Structural Steel Pipe market state and the competitive landscape globally. This report analyzes the potential of Structural Steel Pipe market in the present and the future prospects from various angles in detail. Global Top Manufacturers Analysis such as Omega Steel, JFE Steel Corporation, O'Neal
Global Lamination Steel Market 2018 - JFE Steel, Waelzholz, Toyota Tsusho, Tata …
Apex Market Reports, recently published a detailed market research study focused on the “Lamination Steel Market” across the global, regional and country level. The report provides 360° analysis of “Lamination Steel Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Lamination Steel on